Lump sum, mortgage or university fees?

LiveGiantlyAgain

corriebee1 wrote:

Well, would you believe it! I've just been offered an amazing investment opportunity! We could go halfers?!

I am Dr. Bakare Tunde, the cousin of Nigerian Astronaut, Air Force Major Abacha Tunde. He was the first African in space when he made a secret flight to the Salyut 6 space station in 1979. He was on a later Soviet spaceflight, Soyuz T-16Z to the secret Soviet military space station Salyut 8T in 1989. He was stranded there in 1990 when the Soviet Union was dissolved. His other Soviet crew members returned to earth on the Soyuz T-16Z, but his place was taken up by return cargo. There have been occasional Progrez supply flights to keep him going since that time. He is in good humor, but wants to come home.
......
Needless to say, the trust reposed on you at this juncture is enormous. In return, we have agreed to offer you 20 percent of the transferred sum, while 10 percent shall be set aside for incidental expenses (internal and external) between the parties in the course of the transaction. You will be mandated to remit the balance 70 percent to other accounts in due course.

**Jaws movie theme song playing in the background**

veronese68

corriebee1 wrote:

Well, would you believe it! I've just been offered an amazing investment opportunity! We could go halfers?!

Sounds good to me, where do I sign.

Anonymous

Can you afford to put a deposit on a second home? Buy-to let or similar? Invest in your children's future by sorting a home for them?

ugo.santalucia

I don't believe in tuition fees... don't pay for University... tell your kids to go to Uni, build up a debt and then piss off to Brazil and forget about the all thing... that's exactly what the Tories deserve... unless they study economics or law, get a big salary, in which case paying the loan is no big deal... either way, pay the mortgage

itboffin

personally i'd build my own micro brewery because ultimately it WILL save me money in the future

Sleeper Service

I received a return on an investment I'd made a few years ago which was enough to pay off my mortgage (there wasn't an enormous amount left). Not only was the mortgage rate higher than anything I could get though a savings plan without jumping through hoops, but the feeling of owning our own house is great - we will never have to worry about losing the house if we lost our jobs. For that reason alone I would pay off the mortgage.

bikes`n`guns

Certainly wouldn`t consider any ISA or such like. If you want to invest buy a couple of secondhand stainless steel Rolex watches and stick them in the safe.

As for financial advice regards the lump sum, Buy a custom built Colnago.

You`re here for a good time not a long time.

wolfsbane2k

itboffin wrote:

personally i'd build my own micro brewery because ultimately it WILL save me money in the future

That's the kind of aspirational thinking I like to see..

veronese68

Wolfsbane2k wrote:

itboffin wrote:

personally i'd build my own micro brewery because ultimately it WILL save me money in the future

That's the kind of aspirational thinking I like to see..

So do I, but it would be a hard sell to the EPO.
Thankfully with a holiday coming up at the end of the week the worrying about money has been diverted for the time being. Lots of good ideas for when it starts again though, thanks all.

chris_bass

have you looked into getting solar panels installed, they don't cost that much these days, you get the money back from the extra you generate and obviously reduced energy bills. The extra income could help to subsidise uni fees and you should still have plenty let to pay off a good chunk of the mortgage.

veronese68

Chris Bass wrote:

have you looked into getting solar panels installed.

Not sure how well that would work for us, as the roof faces north. I did think about it for a few seconds once and then thought it probably wasn't worth it so didn't think about it any more. At least the wouldn't be as ugly as most of the loft conversions round our way.

itboffin

Plus there's the whole lack of sunshine thing we do so well in the UK

bendertherobot

I bought my solar last year before the fees were cut. Cost us 5k over 5 years and we make about 1k a year back in savings and payments. So over the remaining 20 tariff years we will make a minimum of 20k

ugo.santalucia

Veronese68 wrote:

Chris Bass wrote:

have you looked into getting solar panels installed.

Not sure how well that would work for us, as the roof faces north. I did think about it for a few seconds once and then thought it probably wasn't worth it so didn't think about it any more. At least the wouldn't be as ugly as most of the loft conversions round our way.

The Earth has been whacked out of its spin axis already once, if it was to be whacked the other way round by a massive passing space debris you would be a winner, as the sun might then be shining on your north facing roof...

Maybe an unlikely scenario, but worth considering... certainly better than paying tuition fees

veronese68

ugo.santalucia wrote:

Maybe an unlikely scenario, but worth considering... certainly better than paying tuition fees

Good point, badly worded on my part. He will have to get a loan for fees and as much of his expenses as possible, but I think we will have to supplement his time at uni a fair amount. He's also looking at getting a sponsored degree which should help.

First.Aspect

Veronese68 wrote:

ugo.santalucia wrote:

Maybe an unlikely scenario, but worth considering... certainly better than paying tuition fees

Good point, badly worded on my part. He will have to get a loan for fees and as much of his expenses as possible, but I think we will have to supplement his time at uni a fair amount. He's also looking at getting a sponsored degree which should help.

Without trawling through the thread...... I understand the living costs associated with university, but why are you worrying about fees?

They are effectively a graduate tax. Given that many students will never pay them back in full, and advance contribution you make will literally be wasted won't it?

EKE_38BPM

bendertherobot wrote:

I bought my solar last year before the fees were cut. Cost us 5k over 5 years and we make about 1k a year back in savings and payments. So over the remaining 20 tariff years we will make a minimum of 20k

With all of that money you're saving, I'd suggest getting a Tesla Model S.
I've recently been driving a P85D and it is great fun. 691 horse power powered by sunlight from your roof, or for free at the Superchargers. Free fuel for life!

Only the very fastest of super cars are quicker but the Tesla is the only one that you can take four other people in.

roger_merriman

EKE_38BPM wrote:

bendertherobot wrote:

I bought my solar last year before the fees were cut. Cost us 5k over 5 years and we make about 1k a year back in savings and payments. So over the remaining 20 tariff years we will make a minimum of 20k

With all of that money you're saving, I'd suggest getting a Tesla Model S.
I've recently been driving a P85D and it is great fun. 691 horse power powered by sunlight from your roof, or for free at the Superchargers. Free fuel for life!

Only the very fastest of super cars are quicker but the Tesla is the only one that you can take four other people in.

It is a deeply impressive car and technology, this said it's not 691hp which is using um Man Maths ie just adding the motors theoretical power, and ignoring the battery. ie its 463/532hp for the P85D/P90D. some folks in denmark

The motors power is limited by the battery and fuse. and will fall quite quickly if used hard, ie track day/hill climb where the tesla goes into power limited mode, within a few mins, even if it doesn't Tesla performance compared to comparable ICE cars falls as the speed climbs. ie it does very well 0-60 but falls off after that.

It wins drag races as long for the most part, but looses lap times and what not with similar cars. against super cars it's not really a fair battle.

Pufftmw

Hmm...

I agree with the mortgage payments as well - anything you can do to finish earlier on your mortgage and remove that millstone around your neck is to be recommended. It makes the option for nice things such as giving up work that much easier to make.

My ex is currently trying to take me to Court so that I continue to pay maintenance for my daughter for when she leaves school next year, until she finishes uni. My argument is that she should get a loan like every other kid and that if she needs more, then she can work & save for it. I don't think I'm being harsh and I don't want my daughter to suffer, so will always be there for her but she needs to be able to stand on her own two feet seeing as how she will be an adult at that point. My parents gave me a good (paid) education but it stopped when I'd done my A-levels & I've done the same for my daughter, why try & insist that I pay more?

drlodge

Pufftmw wrote:

My ex is currently trying to take me to Court so that I continue to pay maintenance for my daughter for when she leaves school next year, until she finishes uni. My argument is that she should get a loan like every other kid and that if she needs more, then she can work & save for it. I don't think I'm being harsh and I don't want my daughter to suffer, so will always be there for her but she needs to be able to stand on her own two feet seeing as how she will be an adult at that point. My parents gave me a good (paid) education but it stopped when I'd done my A-levels & I've done the same for my daughter, why try & insist that I pay more?

That sucks. I'm in the final stages of agreeing the consent order so we can get decree absolute. We agreed to visit Uni fees before they go, but the change to maintenance loans means that the kids can take out the majority of the loan, which is means tested based on *her* income, so I reckon she should make up the difference rather than me.

CMS goes up until end of A levels so I can't see your Ex has a case? I'd be very interested to know the outcome!